This has been a huge issue for a while. Goverment is still being bought by big Banks and Big Companies. The people that get hurt are the ones that need credit and financing. Remember the housing bubble and the mess we are in today is due to Big Business and Big Banks. I have attached a video to help explain what is happening in Washington. California residents with our State recieving so much money in campaign funds from the “Big Banks and Big Companys” your ability to get loans and financing will soon be at the discretionary whim of who can pay the most. More options mean more chances of lower costs. If there are only Big Banks left you options are vastly reduced. As Citizens it is so important that your voice be heard. As always I am available to answer questions.

So many people I first speak to and explain to them the importance of their “Debt to Credit Ratio” (balances divided by the limits on your credit cards) tell me—“Oh, I just paid them off!” They naturally believe this is a positive for their credit scores and they will immediately increase.
Common sense dictates that this is a good thing and of course if they had high balances then in the Big Picture of credit scoring it actually is.

Unfortunately it isn’t! Why. Because when you pay your credit cards or revolving credit down to a zero balance you have, no “activity” on those accounts which actually hurts your credit score! Remember, the Algorithm or Credit Scoring Model that calculates your score likes to see what we call “active accounts in good standing”!

Now keep in mind there are major factors in credit scoring and minor factors. This would fall under the latter category.
So let’ say you have a $2,000 credit card. If possible keep about $100 to $300 balance on it. Then set up an automatic minimum payment that is taken out of your checking account each month. It will only be about $10-20 and the interest you pay will be very low.

Now You are using the credit card companies as opposed to them using you!

It can be a 20-30 point increase in your score! And when it comes to credit scoring, sometimes every point counts!

If you have any questions on credit and fico scores please drop me a line…. Until next time

As much as the government talks about staying out of housing, it can’t. President Obama is expected to unveil a new refinance plan today in Virginia at 10AM CST. Whatever plan it is, no one expects it to pass through Congress, IF Congressional approval is required. Recall that this plan was previewed by Obama during his SOTU address last week. The plan would allow non-agency mortgage holders (so those mortgages not backed by Fannie/Freddie) who are current to refinance into a lower-interest federally insured mortgage (via the FHA). Borrowers could qualify even if they had negative equity. The plan could help as many as 3.5M homeowners refinance. The plan is expected to cost ~$5-10B and Obama will call for a new fee to be charged to banks to pay for the proposal – because they have all the money, right?

I don’t know about you, but since history has a tendency to repeat itself rest assured, any and all costs will be passed onto the Homeowner.

Who wouldn’t these days! It seems like there are more questions than ever to ask regarding mortgages. My promise is to guide you through the information and to help you make an informed decision that will keep your life worry-free.

Buying a Home? These days it’s all about getting the “correct” loan for your situation. FHA, VA, CHFA, and conventional we have you covered. Together, we will develop a personalized loan that will give you peace of mind and a plan to follow when the speed-bumps in life come along.

Curious about Refinancing? I can explain the process and what you can expect from it. The benefits of refinancing include a reduced interest rate and monthly payment, and possibly a plan to help you pay down your balance more quickly. Fannie Mae and Freddie Mac have made it possible to refinance even when your short on equity.

Looking to Leverage Your Home’s Equity. Now more than ever if you have equity in your home its a good time to use that equity to buy investment properties. With rates and home prices at an all time low why not cash in and pick up some investment properties. We will show you how. I can explain how the process works and what you can expect.